April 20th, 2010 
ifydcat I have a post closing trial balance from january and i am doing general journal and all statements including a balance sheet for feb. how would i journalise the money from cash, accounts receivable, office supplies accouints payable ,common stock, and retained earnings into the balances on this sheet. Is it just understood that the company has that money or do you need to make some sort of transfer entry?
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Depends on how “proper” you want to be. I suspect most accountants use software, so the closing balances of one month automatically become the opening balances of the next. But if you’re doing it manually, or if this is a school project, you might need a journal entry in the GJ, listing all the assets and liabilities and equity from the January closing balances with the narration “being opening balances brought forward”. Personally, I think it’s a waste of time.